The settlement agreement could mark a historic shift in college athletics, allowing schools to pay athletes directly and potentially dismantling the amateur model that has long been in place.
Schools could soon have the ability to spend millions yearly on athlete payments, with the arrangement lasting for a decade and encompassing retroactive compensation for television and marketing rights.
The proposed settlement avoids addressing Title IX issues and aims to use the agreement as leverage in securing a shield from further antitrust lawsuits and employee classification claims, while also implementing oversight for name, image, and likeness deals.
An external entity would oversee name, image, and likeness agreements for athletes, with strict reporting requirements for deals exceeding $600 and the establishment of a clearinghouse to ensure fair market value transactions.
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